The following records are the liquidity and profitability ratios of Maxwell Ltd for the financial years 2017 to 2019 and the comparable industry averages. Ratio 2019 2018 2017 Industry Average Current ratio 2.3:1 1.9:1 1.8:1 2.2:1 Quick (acid test) ratio 0.82:1 0.75:1 0.50:1 1:1 Inventory turnover period (days) 60 70 81 54 Accounts receivable turnover period 50 41 35 30 (days) REQUIRED a) Critically evaluate the liquidity position of Maxwell Ltd. (word limit 200) b) Both the current ratio and quick ratio are used to measure the liquidity of company. Explain how the quick ratio overcomes the limitation of the current ratio. As a part of your answer discuss how the composition of current assets/liabilities impacts a firm's liquidity position. (word limit 150) c) Modern companies focus on long-term sustainable profits driving the need to actively manage environmental and social issues. Describe three potential costs in neglecting such environmental and social issues on long-term profitability. (word limit 200)